No. 25/222/DKom
According to the latest data published by BPS-Statistics Indonesia, Indonesia amassed a USD1.31 billion trade surplus in July 2023, retreating from USD3.45 billion in June 2023. Bank Indonesia views the latest developments positively in terms of efforts to maintain external economic resilience in Indonesia. Moving forward, Bank Indonesia will continue strengthening policy synergy with the Government and other relevant authorities to bolster external resilience and strengthen national economic recovery momentum.
The positive trade balance recorded in July 2023 primarily stemmed from a maintained non-oil and gas trade surplus. Despite moderating on the previous period, the non-oil and gas trade balance recorded a USD3.22 billion surplus in the reporting period, underpinned by persistently solid non-oil and gas exports, which totalled USD19.65 billion. Positive non-oil and gas export performance was mainly attributable to an uptick in exports of natural resources, such as nickel and precious metals, on the back of persistently high international commodity prices. Higher non-oil and gas exports were also recorded in terms of manufacturing products, including electrical machinery and equipment, articles of iron and steel, as well as various chemical products. Based on destination country, non-oil and gas exports to China, the United States and Japan remained solid and were the main contributors to total Indonesian exports. Meanwhile,
non-oil and gas imports tracked an upward trend across all commodity groups in line with increasing economic activity. On the other hand, the oil and gas trade deficit widened from USD0.96 billion in June 2023 to USD1.91 billion in July 2023.
Jakarta, 15th August 2023
Communication Department
Erwin Haryono
Executive Director
